Essex Memorials Limited Filleted accounts for Companies House (small and micro)

ESSEX MEMORIALS LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 04604917

Essex Memorials Limited

Filleted Unaudited Financial Statements

31 December 2019

Essex Memorials Limited

Statement of Financial Position

31 December 2019

	2019		2018
Note	£	£	£	£

Fixed assets

Intangible assets	5	3,958	7,917
Tangible assets	6	21,197	27,772
		--------	--------
		25,155	35,689

Current assets

Stock and work in progress		–	9,888
Debtors	7	241	251
Cash at bank and in hand		5,918	5,292
		-------	--------
		6,159	15,431

Creditors: amounts falling due within one year	8	30,479		43,212
		--------		--------
Net current liabilities			24,320		27,781
			--------		--------
Total assets less current liabilities			835		7,908

Creditors: amounts falling due after more than one year	9	–	2,906
		----	-------
Net assets		835	5,002
		----	-------

Capital and reserves

Called up share capital	10	1	1
Capital redemption reserve		1	1
Profit and loss account		833	5,000
		----	-------
Shareholders funds		835	5,002
		----	-------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 December 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Essex Memorials Limited

Statement of Financial Position (continued)

31 December 2019

These financial statements were approved by the board of directors and authorised for issue on 1 June 2020 , and are signed on behalf of the board by:

Mr P J King
Director

Company registration number: 04604917

Essex Memorials Limited

Notes to the Financial Statements

Year ended 31 December 2019

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Causeway House, 37-39 The Causeway, Maldon, Essex, CM9 4LJ.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Goodwill	-	Over 20 years

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Leasehold property	-	4% straight line
Plant and machinery	-	10% - 25% Straight Line
Fixtures and fittings	-	25% reducing balance
Motor vehicles	-	25% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

Stocks and work in progress

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. Average number of employees

During the year the average number of employees was 1 (2018: 1) which consisted of the director only.

5. Intangible assets

	Goodwill
	£
Cost
At 1 January 2019 and 31 December 2019	50,000
	--------
Amortisation
At 1 January 2019	42,083
Charge for the year	3,959
	--------
At 31 December 2019	46,042
	--------
Carrying amount
At 31 December 2019	3,958
	--------
At 31 December 2018	7,917
	--------

6. Tangible assets

	Land and buildings	Plant and machinery	Fixtures and fittings	Motor vehicles	Total
	£	£	£	£	£
Cost
At 1 January 2019 and 31 December 2019	62,846	8,203	850	40,468	112,367
	--------	-------	----	--------	---------
Depreciation
At 1 January 2019	53,334	2,896	832	27,533	84,595
Charge for the year	2,514	824	4	3,233	6,575
	--------	-------	----	--------	---------
At 31 December 2019	55,848	3,720	836	30,766	91,170
	--------	-------	----	--------	---------
Carrying amount
At 31 December 2019	6,998	4,483	14	9,702	21,197
	--------	-------	----	--------	---------
At 31 December 2018	9,512	5,307	18	12,935	27,772
	--------	-------	----	--------	---------

7. Debtors

	2019	2018
	£	£
Trade debtors	241	251
	----	----

8. Creditors: amounts falling due within one year

	2019	2018
	£	£
Trade creditors	588	1,238
Amounts owed to group undertakings	25,157	36,267
Accruals and deferred income	1,620	1,600
Social security and other taxes	208	232
Obligations under finance leases and hire purchase contracts	2,906	3,875
	--------	--------
	30,479	43,212
	--------	--------

9. Creditors: amounts falling due after more than one year

	2019	2018
	£	£
Obligations under finance leases and hire purchase contracts	–	2,906
	----	-------

10. Called up share capital

Issued, called up and fully paid

	2019		2018
	No.	£	No.	£
Ordinary shares of £ 1 each	1	1	1	1
	----	----	----	----

11. Controlling party

The ultimate parent undertaking of Essex Memorials Ltd is PJK Funeral Directors Ltd, a company incorporated in England and Wales. Registered office address: 6 Corporation Road, Chelmsford, Essex, CM1 2AR. The company has taken advantage of the exemption granted under FRS 102 section 33.1A not to disclose transactions with PJK Funeral Directors Limited. The ultimate controlling party throughout the current and previous accounting period was P J King, director.